Skip to Main Content

Black and white close-up of a girl's smiling face in a car

What is a CU?

There are No Stockholders

Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members (all who have accounts at the credit union) in the form of lower loan rates, higher interest on deposits, lower fees, and enhanced technology and convenience.

Credit unions are economic democracies. Each credit union member has equal ownership and one vote—regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.

What is a credit union?

Ownership

Credit unions are economic democracies. Each credit union member has equal ownership and one vote—regardless of how much money a member has on deposit. At a credit union, every customer is both a member and an owner.

Boards Elected by Members

Each credit union is governed by a board of directors, elected by and from the credit union's membership.

Financial Education for Members

Credit unions assist members to become better-educated consumers of financial services.

Not-for-profit

Credit unions are not-for-profit financial cooperatives that exist to serve members, not to make a profit. Unlike most other financial institutions, credit unions do not issue stock or pay dividends to outside stockholders. Instead, earnings are returned to members in the form of lower fees, lower loan rates and higher interest on deposits.

Membership Eligibility

By federal statute, credit unions cannot serve the general public—yet some credit unions, like Westerra, have been granted state or federal charters to serve specific geographic areas. People qualify for a credit union membership through their employer, organizational affiliations like churches or social groups, or by living in a specific geographic area or community.

Social Purpose: People Helping People

Credit unions exist to help people, not make a profit.  A credit union’s goal is to serve all members well, including those of modest means.

Man standing next to his grill on his deck, holding a beverage

Funds Stay in Colorado, Contributing to Colorado's Economy

Westerra invests in Colorado through loans to members for autos, homes, education and other financial needs—currently servicing over $1 billion in loans for members.

Westerra adds $16.7 million annually to the Colorado economy through lower fees and better rates compared to other financial institutions.

CU FAQs

Boy rides a skateboard while wearing a toy rocket pack on his back.

Ready to join the WCU community?

Open an account in 4 minutes and 59 seconds (we timed it).

Get Started